Diesel, petrol prices may rise by Rs27, Rs21 amid regional tensions

June 23, 2025 (MLN): Diesel and petrol may rise by Rs27 per litre and Rs21 per litre, respectively, amid regional tensions, as domestic fuel prices are likely to face another round of hikes due to escalating global oil prices driven by the Israel-Iran conflict.

Since 13-Jun-25, international prices of Gas Oil and Gasoline have surged by 9.6% and 4.5%, respectively, reaching $93.3/bbl and $83.4/bbl as of 20-Jun-25.

If current trends persist, local prices in Pakistan are expected to rise significantly.

Consequently, domestic fuel prices are set to rise significantly from July 1st to July 15th, driven by sharp increases in international oil prices.

According to report released by Arif Habib Limited, the expected price for Gas Oil (Diesel) will rise to Rs289.93 per liter, up from Rs262.59, reflecting an increase of Rs27.34 or 10.4%.

Similarly, the price of Gasoline (Petrol) is expected to increase by Rs21.49, from Rs258.43 to Rs279.92, an 8.3% rise.

The average WTI crude oil price surged by 12.8% to $74.80 per barrel during June 16–30, compared to $66.30 in the earlier fortnight. Brent crude rose 14% to $76.86, while Arablight climbed 13.0% to $76.79.

In line with these movements, product prices also showed significant increases. Gas Oil (Diesel) saw a 16.3% increase, rising to $91.91 per barrel from $79.05. Gasoline (Petrol) moved up 11% to $82.31 per barrel from $74.15.

Meanwhile, the exchange rate slightly depreciated, with USD/PKR moving from 282.41 to 283.61, a 0.4% change.